7 Penny Stocks with Low PE Ratios

2. Oportun Financial Corporation (NASDAQ:OPRT)

Share Price: $2.85

Forward P/E: 6.2

EPS Growth This Year: 113.70%

Number of Hedge Fund Holders: 9

Oportun Financial Corporation (NASDAQ:OPRT) is a fintech company specializing in financial products that assist members in maintaining their financial health. Its product portfolio includes unsecured personal loans, personal loans, secured personal loans, and Set & Save.

Personal loans address pressuring financial needs, personal growth opportunities, and planned purchases. In contrast, secured personal loans allow access to larger loan sizes compared to unsecured loans. This proves critical for members with financial needs that exceed their unsecured lending limits.

Set & Save is a savings product with an intelligent lending and savings platform. This platform helps people access and automate their savings without affecting their ability to meet daily spending needs. It leverages artificial intelligence to automate its customers’ financial health, even those not well served by mainstream financial institutions.

Oportun Financial Corporation (NASDAQ:OPRT) is making considerable progress toward its long-term profitability targets. It either outperformed or performed at the better end of its guidance metrics in continuation of its 2024 business recovery. To increase its focus on our core products, the company signed a non-binding letter of intent to sell its credit portfolio. It expects this to increase its adjusted EBITDA by around $11 million during 2025. Oportun Financial Corporation (NASDAQ:OPRT) also grew its second-quarter adjusted EBITDA by 109% year over year, taking it to $30 million. It was profitable on an adjusted basis for its second consecutive quarter.

In addition, the company’s new lending-as-a-service collaboration with Western Union will increase its brand awareness and application funnel, allowing it to reach millions of customers. Its capital partners have continually demonstrated confidence in the company’s business model and loans. Raising a new $245 million warehouse facility since the end of the quarter is a suitable example. Overall, Oportun Financial Corporation (NASDAQ:OPRT) is positioned to improve its performance in the second half of 2024, primarily with markedly higher adjusted profitability. It ranks second on the list of the top penny stocks with low P/E ratios.